FBT 2018: Key Learnings for 2019 and Beyond
Don’t wait till next year, the time to improve your FBT processes, compliance, and reduce risk, starts with this webinar!
Jul 26Thu 10:30 AM AEST - Thu 12:00 PM AEST Online
- $220.00 incl. GST
- PD hours: 1.5
FBT is often treated as a once a year tax and after lodging the annual FBT return, many businesses “close the book” on FBT for another year. We believe that FBT requires a proactive approach to compliance, process and policy. By doing this, businesses can access many fringe benefit opportunities and achieve significant FBT savings, but also manage risk.
In this webinar we will share with you the key areas of risk, misunderstanding and unbudgeted FBT cost that we identified throughout the 2018 FBT season.
Topics to be covered will include:
Probably the biggest FBT challenge. In this section we will analyse;
- Recreational entertainment v Non-recreational entertainment
- Reportable entertainment v Non-reportable entertainment
Key learning areas for motor vehicles include:
- Understanding the difference between pre-tax and post-tax deductions and the impact on determining FBT liabilities
- Claiming days unavailable for private use
- Tool of trade vehicles / work related vehicles – how are they defined?
Unravelling the complexity that is car parking:
- Understanding the different methods for calculating the FBT liability
- Dispelling the many myths around the definition of commercial parking stations
- Calculating the lowest daily rate
- Reimbursement v Provision and the key FBT liability and reportable traps
The FBT law contains many exemptions. In this webinar we will discuss:
- Long Service Awards
- Minor benefits
- On premises property exemption
- LAFH benefits
- Temporary accommodation
Webinar Learning Outcomes:
Attendees will be given an understanding of the key areas to consider for improvement or restructure to ensure that FBT risk is carefully managed, whilst ensuring that alternate valuation methodologies, exemptions and concessions can be claimed.
Anyone involved in the managing, processing or reporting of fringe benefits and FBT from beginners to advanced, including:
- Tax agents and tax advisors
- Accountants in Public Practice
- Tax Accountants
- HR Personnel (from officers to General HR Managers)
- Payroll Accountants
- Payroll Managers and their teams
- Finance Managers
- Management Accountants
- Tax Managers
- Facilities Managers
- Procurement Managers
- Fleet Managers
- Salary Packaging Managers
Paul Mather is the founder of FBT Solutions. Paul has over 25 years’ experience in FBT, Payroll and Salary Packaging in Australia & New Zealand helping businesses across all industry sectors meet their ongoing Employment Taxes, Payroll and Indirect Taxes obligations. In particular, Paul has significant hands on experience with Preparation, Review and ATO lodgment of Australian and New Zealand FBT returns. Prior to starting his own practice, Paul worked as an Employment Taxes Director at Ernst & Young in Sydney, and in New Zealand with BDO and PKF.
Paul is a Registered Tax Agent, a Chartered Tax Adviser and a Chartered Accountant. Paul holds a Bachelor of Business Studies from Massey University in New Zealand and a Master of Taxation from Sydney University. Paul is a member of the ATO’s Small Business Stewardship Group and was a member of the former ATO NTLG FBT-subcommittee Group from 2005 to 2013.
You will be provided with:
• PowerPoint presentation slide deck
• Any Supporting documentation
• Webinar Recording to view multiple times for up to 6 months
• An opportunity to ask questions to the presenter
|Asset Protection & Estate Planning – Part 1 of 2||Webinar Recording|
|Winding-up Entities||Webinar Recording|
|Tax Consolidation for SMEs||Webinar Recording|
|FBT 2018: Tax implications of Entertainment Expenses||Webinar Recording|